“,”elements”:[]}],”thumb_big”:”https://etimg.etb2bimg.com/thumb/msid-118231533,imgsize-41238,width-1200,height=765,overlay-etauto/industry/car-sales-shift-to-first-gear-in-jan-after-demand-bump.jpg”,”thumb_small”:”https://etimg.etb2bimg.com/thumb/img-size-41238/118231533.cms?width=150&height=112″,”time”:”2025-02-14 08:22:38″,”is_live”:false,”prime_id”:0,”highlights”:[],”highlights_html”:””,”also_read_available”:false,”body”:”
At Toyota Kirloskar Motor (TKM) too, sales grew 13% to 26,178 units.“>
New Delhi: Sales of passenger cars, vans and utility vehicles grew in low single-digits in January, mainly because of a high base and continued tepid demand in the local market.
Market leader Maruti Suzuki posted a 4% rise from a year earlier at 173,599 vehicles. However, second-ranked Hyundai Motor India reported a 5% drop at 54,003 units, and Tata Motors, the third-largest carmaker, recorded a 10% decline at 48,076 units.
Rajesh Menon, director general, Society of Indian Automobile Manufacturers (SIAM) said, “Passenger vehicles posted its highest ever sales of January in 2025 of 399,000 units, with a growth of 1.6% as compared to January 2024.”
Referring to low single-digit growth rates in the passenger vehicle segment in the past few months, Hyundai Motor India chief operating officer Tarun Garg had in a recent interview cited the high base created by strong passenger vehicle sales over the last three years. “Some moderation will happen. But as an industry we are growing, which is very good,” he had said.
Mahindra & Mahindra sustained its growth momentum in January, outpacing industry growth backed by strong demand for its new products. The company sold 50,659 vehicles last month, an 18% increase from a year earlier.
At Toyota Kirloskar Motor (TKM) too, sales grew 13% to 26,178 units. “The New Year has started on a positive note with trends from last year continuing to set the course for us in 2025,” said Varinder Wadhwa, vice president, TKM.
Three-wheeler sales grew by 7.7% to 58,167 units in January. Sales of motorcycles, scooters and mopeds rose by 2.1% to 1,526,218 units last month from a year earlier.
“The recent announcements in the Union Budget prioritising long-term economic growth and particularly the personal income tax changes and reduction in interest rates by the RBI would help in boosting consumer confidence and drive demand in the industry,” said Menon.
“There are signs of a demand slowdown and the reversal of easy financing is constraining two-wheeler demand,” Kumar Rakesh, analyst-IT & auto, BNP Paribas, said in the latest report, adding: “The direct tax cut announced during the budget would understandably be the key takeaway for the sector. However, we do not see a secular benefit from the changes across Original Equipment Manufacturers (OEMs), even for two-wheeler OEMs. We see a larger benefit for segments and companies that usually see a higher share of salaried employees as customers.”
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Market leader Maruti Suzuki posted a 4% rise from a year earlier at 173,599 vehicles. However, second-ranked Hyundai Motor India reported a 5% drop at 54,003 units, and Tata Motors, the third-largest carmaker, recorded a 10% decline at 48,076 units.
- Updated On Feb 14, 2025 at 08:22 AM IST
Read by: 100 Industry Professionals
Read by 100 Industry Professionals
At Toyota Kirloskar Motor (TKM) too, sales grew 13% to 26,178 units.“>
New Delhi: Sales of passenger cars, vans and utility vehicles grew in low single-digits in January, mainly because of a high base and continued tepid demand in the local market.
Market leader Maruti Suzuki posted a 4% rise from a year earlier at 173,599 vehicles. However, second-ranked Hyundai Motor India reported a 5% drop at 54,003 units, and Tata Motors, the third-largest carmaker, recorded a 10% decline at 48,076 units.
Rajesh Menon, director general, Society of Indian Automobile Manufacturers (SIAM) said, “Passenger vehicles posted its highest ever sales of January in 2025 of 399,000 units, with a growth of 1.6% as compared to January 2024.”Referring to low single-digit growth rates in the passenger vehicle segment in the past few months, Hyundai Motor India chief operating officer Tarun Garg had in a recent interview cited the high base created by strong passenger vehicle sales over the last three years. “Some moderation will happen. But as an industry we are growing, which is very good,” he had said.Mahindra & Mahindra sustained its growth momentum in January, outpacing industry growth backed by strong demand for its new products. The company sold 50,659 vehicles last month, an 18% increase from a year earlier.
At Toyota Kirloskar Motor (TKM) too, sales grew 13% to 26,178 units. “The New Year has started on a positive note with trends from last year continuing to set the course for us in 2025,” said Varinder Wadhwa, vice president, TKM.
Three-wheeler sales grew by 7.7% to 58,167 units in January. Sales of motorcycles, scooters and mopeds rose by 2.1% to 1,526,218 units last month from a year earlier.
“The recent announcements in the Union Budget prioritising long-term economic growth and particularly the personal income tax changes and reduction in interest rates by the RBI would help in boosting consumer confidence and drive demand in the industry,” said Menon.
“There are signs of a demand slowdown and the reversal of easy financing is constraining two-wheeler demand,” Kumar Rakesh, analyst-IT & auto, BNP Paribas, said in the latest report, adding: “The direct tax cut announced during the budget would understandably be the key takeaway for the sector. However, we do not see a secular benefit from the changes across Original Equipment Manufacturers (OEMs), even for two-wheeler OEMs. We see a larger benefit for segments and companies that usually see a higher share of salaried employees as customers.”
- Published On Feb 14, 2025 at 08:22 AM IST
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